Binance Founder CZ Targeted by Suspected North Korean Hackers, Sparks Critical Cybersecurity Alert

Changpeng Zhao (CZ), the founder and former CEO of global cryptocurrency exchange Binance, has raised alarms within the digital asset industry after revealing he was potentially targeted in a cyberattack. Speculations are swirling that the infamous Lazarus Group, a state-sponsored cybercrime entity allegedly backed by North Korea, may be behind the attempt.

On October 10, CZ shared a screenshot of a security alert from Google on his social media platform X (formerly Twitter), stating: “I occasionally receive warnings from Google about government-backed attackers attempting to steal passwords. Not the first time, but I don’t store anything critical in these accounts. Stay SAFU.”

The alert highlighted efforts by state-sponsored attackers to compromise CZ’s account credentials. Although he dismissed the incident as fairly routine, this disclosure has heightened concerns about an escalating threat to the cryptocurrency sector.

Escalating Threats Against the Cryptocurrency Industry

This revelation follows CZ’s earlier warnings about cybersecurity risks tied to North Korean hackers posing as tech professionals. On September 18, CZ cautioned that these disguised operatives actively infiltrate crypto-related companies by exploiting internal vulnerabilities. The timing of this latest incident is spurring fears of a larger, coordinated campaign aimed at the crypto industry.

Despite the absence of any direct compromise of CZ’s account, the broader warning has resonated across the sector. His use of the phrase “stay SAFU”—commonly used within the crypto community to advocate for safety practices—underscores the critical need for vigilance against cyber threats. This implicit reference to the Lazarus Group has led industry insiders to view the attack as part of a prolonged assault targeting blockchain systems and associated infrastructure.

Who Is the Lazarus Group?

The Lazarus Group has earned notoriety as one of the most dangerous state-backed cybercrime organizations. According to U.S. intelligence agencies, the group operates under the North Korean government’s directive and is responsible for numerous high-profile cyberattacks across various sectors.

In February 2023, the Lazarus Group was linked to the theft of $1.4 billion in digital assets from Bybit, underscoring its relentless pursuit of financial targets within the cryptocurrency industry. Experts have frequently flagged the organization's ability to adapt its methods, employing sophisticated tactics to breach critical systems.

Speaking on the latest warning, Andy Lian, an international blockchain expert, highlighted that CZ is not the only high-profile figure targeted recently. “Another government official reported receiving the same type of alert as CZ,” Lian revealed. However, attempts to solicit additional details from Google were met with refusal, as the company prioritizes confidentiality around such security alerts. Lian further elaborated on the group’s operational strategies, explaining that North Korean cyber operatives routinely disguise themselves as job candidates applying for roles in development, security, or finance. Once embedded within an organization, these hackers exploit inside access using bribery and fraudulent recruitment mechanisms to compromise critical corporate systems.

Urgent Call for Stronger Defense Strategies Across the Sector

The cryptocurrency sector has persistently faced rising threats from state-sponsored and independent cybercriminals alike, but recent events emphasize the increasingly sophisticated nature of these attacks. Prominent individuals, high-value organizations, and blockchain ecosystems remain frequent targets in efforts to destabilize and exploit the fast-growing digital asset market.

Industry leaders and cybersecurity experts are now urging businesses to adopt more stringent defense measures, including multi-layered security protocols, routine audits, and employee training. With Lazarus Group’s history of bold exploits, this latest attack reinforces the importance of proactive strategies to minimize exposure to evolving cybersecurity threats.

Although Google has declined to release specific details surrounding its security alerts to CZ and other individuals, the incident underscores the critical challenges at the intersection of geopolitics and digital assets. As the cryptocurrency ecosystem continues its rapid expansion, the emphasis on heightened vigilance and robust institutional safeguards must remain a top priority to counter emerging risks.

Cryptocurrency organizations—and by extension, the broader blockchain community—must approach cybersecurity as a fundamental pillar of their operations. Events like these serve as stark reminders of the vulnerabilities underlying lucrative and increasingly globalized industries.